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Blanco, Andres; Navarro, Gaston - 2016

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...

Persistent link: https://www.econbiz.de/10011573865

Monetary policy and the relative price of durable goods

Cantelmo, Alessandro; Melina, Giovanni - 2015

In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...

Persistent link: https://www.econbiz.de/10010515460

Impulse response matching estimators for DSGE models

Guerrón-Quintana, Pablo A.; Inoue, Atsushi; Kilian, Lutz - 2016

One of the leading methods of estimating the structural parameters of DSGE models is the VAR-based impulse response … sheds new light on the choice of the weighting matrix and covers both weakly and strongly identified DSGE model parameters …

Persistent link: https://www.econbiz.de/10011418016

Monetary union, even higher integration, or back to national currencies?

Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2016

Keynesian DSGE model consisting of two heterogeneous countries. The model is solved using data from Germany and Italy. Our …

Persistent link: https://www.econbiz.de/10011430977

Exchange rates and asset prices : heterogeneous agents at work

Piccillo, Giulia - 2013

exchange rates and stock prices. On the other hand we model the relationship between these two series through a DSGE model … information from the financial markets. The second rule follows a backward looking approach. We find that when DSGE agents … volatility of these markets. The simulated series replicate the stylized facts of real data. We also estimate the DSGE and …

Persistent link: https://www.econbiz.de/10009748370

Sector specific news shocks in aggregate and sectoral fluctuations

Görtz, Christoph; Tsoukalas, John D. - 2013 - First version: March 2011, This version: May 2013

Using a two-sector estimated DSGE model with a financial channel we show the sector where TFP news arrives matters for …

Persistent link: https://www.econbiz.de/10009753003

Risk, intermediate input prices and missing deflation during the Great Recession

Kara, Engin; Pirzada, Ahmed Jamal - 2015

During the Great Recession, despite the large fall in output, inflation did not fall much. This is known as the missing deflation puzzle. In this paper, we develop and estimate a New Keynesian Dynamic Stochastic General Equilibrium model to provide an explanation for the puzzle. The new model...

Persistent link: https://www.econbiz.de/10011292980

News shocks under financial frictions

Görtz, Christoph; Tsoukalas, John D.; Zanetti, Francesco - 2020

for the propagation of news shocks. A DSGE model enriched with a financial sector generates very similar quantitative …

Persistent link: https://www.econbiz.de/10012373126

Lockdown policies : a macrodynamic perspective for COVID-19

Busato, Francesco; Chiarini, Bruno; Cisco, Gianluigi; … - 2020

The COVID-19 pandemic is producing a global health and economic crisis. The entire globe is facing the trade-off between health and recessionary effects. This paper investigates this trade-off according to a macro-dynamic perspective. We set up and simulate a Dynamic Stochastic General...

Persistent link: https://www.econbiz.de/10012258268

A model for international spillovers to emerging markets

Houssa, Romain; Mohimont, Jolan; Otrok, Christopher M. - 2019

This paper develops a small open economy (SOE) dynamic stochastic general equilibrium (DSGE) model that helps to …

Persistent link: https://www.econbiz.de/10012029113